Question

Describe the fraud risks for Amazon: (Please be industry specific)

Answer 1

Describe the fraud risks for Amazon:
On Amazon there are thousands of sellers created every day wth a less obstacles to entry, thus it is important to be aware that it might cause a huge risk for seller frauds. These fraud risks for Amazon includes:
-- Fraud of “Failed Delivery”: There are many sellers who are fraudulent and adds fake list of the products that they don’t truly have or does not plan to ship. These lists are are created only to collect the payments from the buyers. On the other side the buyers also claim they never received the product they purchased, however they did, claim the product during shipping was stolen or that the individual who signed on receipt of the shipment was not them
-- Scam of Phishing: There are sellers on Amazon that acquire personal details from the customer to steal the identity of funds.
-- “Replace & Refund” fraud: The seller may ship “old or damaged” product to the customer; and as these are difficult to prove thus may fraud the customer with a refusal to refund or replace the product. On the other side the buyers also claim a refund for the product they received in a good shipment; and to avoid the hassle of dealing with a dispute the sellers proceeds the refund
-- Email scams: There are cases when the receive an email for the product delivery hiwever it is not shown in “your orders”, indicating a clear sign of scam
-- Returning Different Items: The buyers sometimes returns the product different than that they purchased.